MAJOR Bank Makes Announcement to Sell Billions in Treasuries

Eurodollar University

A Japanese bank giant announced it was going to begin selling tens of BILLIONS in USTs and other European government bonds knowing full well the institution is going to take huge losses on the sales. Is this the start of another bank run? Will this kill the Treasury market?

Eurodollar University's Money & Macro Analysis

About Norinchukin Bank
https://www.nochubank.or.jp/en/about/

Norinchukin Financial Summary Fiscal Year 2023
https://www.nochubank.or.jp/en/ir/results/pdf/cap_results2023_04_02.pdf

Bloomberg Echoes of 2009 Crisis Thrust Japanese Bank Norinchukin Back Into Spotlight
https://www.bloomberg.com/news/articles/2024-05-21/japan-s-bank-for-farmers-and-fishermen-returns-to-spotlight-for-overseas-losses

Bloomberg Norinchukin Bank to Sell $63 Billion of Sovereign Bonds
https://www.bloomberg.com/news/articles/2024-06-18/norinchukin-bank-to-sell-63-billion-of-bonds-to-stem-losses

Bloomberg A $1.3 Trillion Fund Pool for Junk-Rated US Firms Has Unlikely Lifeline: Japan's Banks
https://www.bloomberg.com/news/articles/2023-04-20/the-1-3-trillion-clo-market-grows-more-dependent-on-japan-banks

FRBNY Standing Repo Facility Approved Counterparties
https://www.newyorkfed.org/markets/srflist-231201

CBO Budget Update June 2024
https://www.cbo.gov/system/files/2024-06/60039-Outlook-2024.pdf

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